re: Holding AMC Thread- Diamond hands unite

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I’ve been on the other end too many times, so profit-taking at numbers over 100% is good for me.

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No shame in that.

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They were wrong, they won't eventually be right. They were wrong that it wasn't a good play. Now, it might not be a moon-shot, but to say that you shouldn't have got in when it was in the low teens (or even lower), is wrong and cannot be proven "right"

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There are two pretty distinct conclusions on these plays IMO - first and foremost, did you get the direction and timing right? That’s ultimately all that matters, and it doesn’t matter how you came to that conclusion. The second part is whether or not you were right for the right reasons. That isn’t important on individual plays but matters as to whether or not it’s repeatable over time.

Also, while I can’t speak for everyone, I pretty safely assume I’m included in all of this “they” talk about AMC bashers. I could be wrong, but I don’t believe I’ve ever told someone not to buy AMC outright. I’ve been outspoken when I think the information people are using is flawed, which goes back to that repeatable aspect, but speculation is speculation - I’m not going to outright tell someone not to make bets.

Like I’ve told greygoose many times, I hope he makes a ton of money, but I think his reasons for buying the stock were crazy then and they’re still crazy now. That won’t change until his reasons are proven right, which is all I think I’ve ever argued.

I’m not even going to lie boys. I vastly cut my number of shares down which I may end up regretting but I took my profits out and now I’m riding just under 10 shares worth of AMC to see if it in facts does what people believe it will do.

This and DOGE have made me some pretty good money the last few months so I’m happy as hell for it but I wanted to be cautious and not risk losing all my profits. I did frick up by not pulling out when it reached 74 bucks the other day. That would have been a massive load of cash made for me.

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Ortex update: 9.32MM net shares returned today so far. This would be trades that were covered on Thursday at the earliest. Estimated Shorts are now at 65.28MM, down 35MM from the Ortex estimated peak in late April. Down 28% from Wednesday.

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Now 15MM net shares returned. Estimated short shares are 61.5MM now. Down 13.7% today. Down 31% from Wednesday.

MarketWatch
‘Resist the temptation’ to short AMC Entertainment, other meme stocks ‘because these prices can go to unimaginable highs,’ says Interactive Brokers founder
Mark DeCambre
Mon, June 7, 2021, 10:40 AM




LINK

Thomas Peterffy disagrees with you at the moment.

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Now 15MM net shares returned. Estimated short shares are 61.5MM now. Down 13.7% today. Down 31% from Wednesday.

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Returned shares have slowed down a bit since a few hours ago. 17MM net shares returned as of last update.

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Resist the temptation’ to short AMC Entertainment, other meme stocks ‘because these prices can go to unimaginable highs,’ says Interactive Brokers founder
Mark DeCambre

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I don’t think he’s wrong. I also don’t think he means $10k/shr or something either, but the upside risk is very high for shorts in a meme stock. We all know the economics - you cannot make more than 100% while shorting, and the liquidity necessary to withstand these double or triple digit up days would require you to be all in against AMC. Even that may not be enough.

Were you for or against the potential of AMC even reaching the levels that it is currently at ($50+)? Your reasoning can be logical, and the outcome and still come out differently than you expected.